The upper part of the stele of Hammurabi's code of laws was discovered in 1901 by the Egyptologist Gustav Jéquier. It was discovered in what is now Iran. Hammurabi ruled from 1796 BC – 1750 BC. They believed he was chosen by the gods to give the law to the people. He said "Anu and Bel called by name me, Hammurabi, the exalted prince, who feared God, to bring about the rule of righteousness in the land." The Babylonians had to follow the Code of Hammurabi. It was one of the several sets of laws in Ancient Ancient Middle East. Older sets of laws from the past are,Ur-Nammu, king of Ur in 2050 BC, the Laws of Eshnunna in 1930 BC and the codex of Lipit-Ishtar of Isin in 1870 BC.
The Babylonians and the countries next door developed the earliest system of economics that was in a legal code. It uses a metric of various commodities. A commodity is some good for which there is demand, but which is supplied without qualitative differentiation across a market. The law codes from Sumer could be the first written economic formula. It had things very similar today's society such as interest rates, fines for wrong doing, inheritance rules and how private property is to be taxed or divided.
No comments:
Post a Comment